The first Monday Night Raw of the New Year is always a tentpole event for WWE. In many ways, it serves as the unofficial start to the Road to Wrestlemania and is used as a crutch to begin the countdown to the Royal Rumble. Monday night's episode is highlighted by a championship match between CM Punk and Bron Breakker, but the match may not be the top headline of the night.
After speculation for months that Chris Jericho was prepping for a return to WWE, rumors have picked up over the past week that his first appearance back could happen on Monday night.
As was the case when previous stars made their return to the company, Punk and Cody Rhodes, WWE likes to keep the details under wraps. Even with that intention, they often leave bread crumbs for fans, and that may have been the case during Adam Pearce's preview of the show.
#WWERAW GM @ScrapDaddyAP previews the FIRST Raw of 2026 🔥
— WWE (@WWE) January 4, 2026
A special @Stranger_Things themed episode of Raw to kick off the new year!
📺: 8e/5p on @netflix pic.twitter.com/MWCLKGl4AT
Chris Jericho return theories hit overdrive after cryptic Raw tease
While highlighting that the show will feature three championship matches, Pearce casually dropped in the line, "who can break down the walls and claim the gold". It seems like a deliberate choice of words from Pearce, given that "break down the walls" is a direct callback to Jericho's time with the company. As well as a hat tip to his finishing submission hold, The Walls of Jericho.
If we know anything about how WWE handles these returns, nothing is done by chance, and they are aware of all the chatter taking place on social media, and they're not afraid to lean into the chaos. It also leaves them some room for a pivot if needed.
Monday night may be used to further the tease of Jericho's return, with the eventual reveal taking place when he is a surprise entrant during the Royal Rumble in Saudi Arabia on January 31. With the event marking the first time Saudi Arabia is hosting one of the company's marquee PLEs, Jericho's return, scheduled for then, shouldn't be ruled out by WWE.
If it does happen on Monday night, though, it will be curious to see how it is done. It's possible that Jericho's return is tied to the finish of the World Heavyweight Title match. If Punk retains the title, it wouldn't be a complete shock to see the episode end with Jericho returning to confront his longtime WWE rival.